Page 51 - Union Budget

eCourts Ph-3 project gets Rs 825 cr this fiscal, Rs 1,500 cr for next FY

The phase-III of the ambitious eCourts project, which seeks to upgrade the lower judiciary's digital infrastructure, has been allocated Rs 825 crore this fiscal after the revised estimates, while an enhanced sum of Rs 1,500 crore has been allocated for the next financial year. The phase-III received a Cabinet nod in September last year with a financial outlay of Rs 7,210 crore. According to the revised estimates for 2023-24, the Law Ministry has been granted Rs 825 crore for the Phase III of the project. The project will get Rs 1500 crore, according to the budget estimates for 2024-25. This phase of the the project, which is to be implemented over four years, will see digitisation of entire court records, both legacy and pending cases, at an estimated cost of Rs 2,038.40 crore. A total of 3,108 crore documents will be digitised, official sources had said. The eCourts Mission Mode Project has been described by the government as the prime mover for improving access to justice using

Budget 2024: Govt to keep spending on border roads after 30% overrun

The countries have been in a military standoff since July 2020 when at least 24 Indian and Chinese troops were killed in the worst clashes between the two sides in five decades

Budget focused on transforming country into developed economy by 2047: TDP

TDP state president K Atchen Naidu on Thursday appreciated the interim budget presented by Union Finance Minister today for focusing on transforming the country into a developed economy by 2047. Naidu noted that the budget focused on primary sectors and employment generation. "The implementation of the Skill India Mission programme for 1.4 crore youth, alongside the allocation of Rs 11 lakh crore for the primary sectors will significantly impact the nation's trajectory," said Naidu, talking to reporters. The TDP joined forces with Jana Sena party led by actor-politician Pawan Kalyan, which is a part of the NDA at the Centre, after party chief N Chandrababu Naidu was arrested in a corruption case. The two parties plan to contest jointly in the upcoming assembly polls in the state, which are to be held alongside the Lok Sabha elections. Lashing out at Chief Minister Y S Jagan Mohan Reddy, the TDP leader asserted that Andhra Pradesh used to be a top job creator through skill training

Interim Budget balances need for equitable growth, says CII president

He welcomed govt's push for infrastructure, capex-led growth

Budget 2024: Govt will encourage vaccination for cervical cancer, says FM

As per 2022 estimates, every year, approximately 125,000 women are diagnosed with cervical cancer, and over 75 thousand die from the disease

Budget for President's office increase by 47.5% to Rs 144.18 crore

The interim Budget on Thursday allocated Rs 144.18 crore for the staff, household and allowances of the president, a massive increase of Rs 46.49 crore (about 47.5 per cent) from Rs 97.69 crore earmarked in the revised estimates for FY24. In the announcements for the 2024-25 interim Budget by Finance Minister Nirmala Sitharaman, Rs 90.87 crore was allocated for the president's secretariat and Rs 52.71 crore was sanctioned under the head 'other expenditures', which provides for the expenditure on the household establishment of the president, including staff salaries. Other expenditures also include discretionary grants of the president and provision for capital section. The document shows that of the total allocation, Rs 60 lakh has been allocated for the salary and allowances of the president, which remained unchanged from the last budget. The amount allocated under the head 'president's secretariat' provides for the establishment and allied expenses with respect to it which includ

Interim Budget 2024 focuses on $5 trillion economy target: Assocham

The interim budget focuses on the government's objective of making India a USD 5 trillion economy and a developed nation by 2047, Assocham President Ajay Singh said on Thursday. Finance Minister Nirmala Sitharaman presented her sixth Budget on Thursday in which she announced a Rs 11.11 lakh crore spending on infrastructure among other proposals. "It is an India-first budget. A confident budget of a confident government that focuses on the objective of ensuring that India becomes a 5 trillion-dollar economy by 2025 and a developed nation by 2047," Singh told PTI in a post-budget interaction. Speaking further, he said the government has focused on infrastructure, startups, and rail corridors in the Budget. The Finance Minister also announced a Rs 1 lakh crore fund for research and development and the startup sector which is a very significant move. There is no question that the Budget will have a significant impact on the common man, Singh, who is also the CMD of airline company ...

Sports ministry's Budget allocation up by Rs 45 crore at Rs 3,442 crore

The Sports Ministry was on Thursday allocated Rs 3,442.32 crore, a hike of Rs 45.36 crore as compared to last year, in the interim Union Budget presented by Finance Minister Nirmala Sitharaman. In the previous budget, the Sports Ministry had got a revised allocation of Rs 3,396.96 crore. The Olympic Games in Paris, to be held from July 26 to August 11, will be the country's main focus during the 2024-25 financial year. The ministry's flagship programme, Khelo India, was allotted Rs 900 crore, an increase of Rs 20 crore from the previous budget. The Sports Authority of India (SAI), which organises national camps, provides infrastructure and equipment to athletes, appoints coaches among others, saw Rs 26.83 crore increase in its budgetary allocation from the previous year's revised expenditure of Rs 795.77 crore. The National Sports Federations (NSFs) will receive Rs 15 crore more this time, as compared to the 2023-24 revised budget of Rs 325 crore. The National Anti-Doping Agency

Interim Budget 2024 unveils growth path with fiscal prudence: Economists

Finance Minister Nirmala Sitharaman announces fiscal measures aiming at sustainable growth and fiscal consolidation, drawing positive reactions from economists

Census, NPR unlikely in 2024 too as only Rs 1,277 cr allocated in budget

The interim budget 2024-24 on Thursday allocated Rs 1,277.80 crore for census, a significant reduction from 2021-22 when Rs 3,768 crore was allocated and an indication that the exercise may not be carried out even after three years of delay. A meeting of the Union cabinet on December 24, 2019 had approved the proposal for conducting census of India 2021 at a cost of Rs 8,754.23 crore and updating the National Population Register (NPR) at a cost of Rs 3,941.35 crore. The house listing phase of the census and the exercise to update the NPR were scheduled to be carried out across the country from April 1 to September 30, 2020 but postponed due to the COVID-19 outbreak. The census operation continues to be on hold and the government has not yet announced the new schedule. Officials said since general elections are due this year, the census is unlikely to be carried out in 2024. According to the interim budget, Rs 1277.80 crore has been allocated for census surveys and statistics (Rs .

Budget 2024: Industry leaders 'happy' with Modi govt's 'prudent' budget

Budget 2024 Updates: Finance Minister Nirmala Sitharaman presented her sixth budget, an interim one on February 1, ahead of the Lok Sabha elections scheduled for this year

On path to achieving fiscal deficit target of 4.5% by FY26: FM Sitharaman

Interim Budget: Revenue Secretary Sanjay Malhotra said that the removal of tax old tax disputes is likely to cost the Centre around Rs 3,500 crore

Budget 2024: What did FM Sitharaman say on education, Skill India Mission

The Centre proposes opening of new medical colleges and upgrade Anganwadi centres in the Interim Budget 2024

Budget 2024 targets cervical cancer, which kills 8 Indian women every hour

Budget 2024 updates: In the interim budget 2024, Sitharaman proposed to boost vaccination against cervical cancer, the fourth most common cancer in women globally

FM delivers a prudent, pragmatic and progressive budget, says Sundeep Sikka

From an equity market perspective, some of the positives appear to be considered in valuations and therefore return expectations from near term perspective should be moderate

India yet to see significant improvement in debt affordability: Moody's

Moody's in August had affirmed a 'Baa3' rating on India with a stable outlook. A higher rating implies lower economic risk, allowing a country to borrow at cheaper rates

Govt seeks to boost oilseed output to cut expensive vegetable oil imports

India, the world's biggest vegetable oil importer, spent a record $20.8 billion on its edible oil purchases in the fiscal year to March 2023

Realty sector reacts on Budget with cautious optimism, hails PMAY expansion

The real estate sector echoed a sentiment of cautious optimism while reacting to the interim Budget presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha on Thursday. A M Karthik, senior vice-president and co-group head at ICRA Ltd, emphasised the positive impact of the Budget on affordable housing demand. Karthik predicted a surge in demand for affordable housing units following the Centre's announcement of an additional two crore housing units under the PMAY (Grameen) and a proposed housing scheme for the middle class. Noting the potential benefits for housing finance companies, he anticipated a boost in credit flow to these segments. "While liquidity at this juncture looks tight, a lower GOI borrowing programme in the next fiscal could temper the funding cost increase of these lenders," he said. Samantak Das, chief economist and head of research and REIS, India, JLL, noted the absence of major announcements but highlighted the government's focus on fiscal prud

No adverse policy changes in the interim budget was a boon: Rahul Arora

The focus on fiscal consolidation led by moderation in government capex aims to reduce the risk of the government crowding out the private sector

Ficci, corporates hail Budget, say its continuum towards 'Viksit Bharat'

Federation of Indian Chambers of Commerce and Industry (FICCI) President Dr Anish Shah has termed the Intermin Budget 2024-25 as a clear and outcome-based continuum towards Viksit Bharat."The Interim Budget is a clear and outcome-based continuum towards Viksit Bharat. It brings together growth, climate, and social empowerment while maintaining a careful balance between current investment rate and fiscal discipline," said Anish Shah."Enabling States to adopt reforms for Viksit Bharat will seize the momentum created from the Centre towards Amrit Kaal. Focus on Blue Economy, expanding and strengthening the EV ecosystem, domestic tourism, and multi-modal logistics will propel India towards the vision of a developed nation by 2047," he said."The Interim Budget recognizes innovation as a key driver for growth through the introduction of a significant corpus of Rs 1 lakh crore for offering a fifty-year interest-free loan to scale up R & D in sunrise domains. The fiscal performance bodes .